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Message: Volume

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Deliverator

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Re: Volume

in response to Volume by Silverback

posted on Nov 18, 09 02:35AM

Deliverator said yesterday : Remember: volume follows the trend.

Today's volume of 2 million shares overall appears to be 'normal' although it has increased over the last few days to accompany the increase in share price to a new high close.

I'm curious to see what transpires tomorrow with respect to volume and share price.

Comments?

According to Yahoo, average volume for SGR is 1.708M shares traded daily, so today at 2.143M shares would be approximately 25% above normal trading volume, confirming the trend.

The average daily trading volume for the previous 20 trading days (except the last two trading days, of course), as the share price languished below $3/share has been ~1.37M shares traded daily, which is ~20% below the average trading volume for the stock.

It would seem indeed therefore that the larger trend is from the "bottom left to the upper right", as a certain letter-writer is want to say.

Also, the new all-time high for the share price would also confirm the triple-top breakout. The old high of $3.31 should now be support.

Just my $0.02 (real copper, not that chincy copper-plated zinc).

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